Jan. 18, 2008 - Rental Prices Forced Down

With the growing foclosure rates across the country the market has certainly become flooded with listings in some areas.  With homeowners having trouble selling their current home many sellers are opting to rent outtheir homes in hopes of riding out the market's down turn.  Unfortunatly, this is not an original idea and with more sellers going down this road a new problem is occuring in the market; rental prices are falling!

It comes down to the simplicity of suppy and demand.  The more rental properties in the market, the lower the rental prices will be.  Fortunatly, the Chicagoland area is not being hit very hard.  It is not difficult to find foreclosures in our neighborhoods' but our area has not had the value losses of many other areas across the nation.